Held that the subsidy was given towards administrative expenses incurred by the assessee-company during the execution of project for upgradation of infrastructure facilities for expansion of the infrastructure facility fell in the category of “capital”. It was not a revenue receipt. (AY. 2010-11)
CIT (E) v. Narmada Clean Tech Ltd. (2022) 446 ITR 366 (Guj.)(HC)
S. 4 : Charge of income-tax-Income or capital-Subsidy received from Government for upgrading of Infrastructure facilities-Capital receipt. [S. 115JB]